August 1, 2007, Vancouver, BC – Abacus Private Equity (formerly Abacus Capital Corporation) announced today that it completed acquisitions totaling nearly half a billion dollars in the first half of 2007, already exceeding the value of acquisitions completed by the company during all of 2006.
Acquisitions in the first half of 2007 included real estate properties, seniors living assets, agricultural operations, biotechnology, manufacturing and services firms with aggregate value exceeding $480 million. The acquired businesses and properties are located in Ontario, Alberta and British Columbia.
“We completed nearly half a billion dollars in transactions in the first six months of 2007, an amount equal to deal flow for all of 2006,” said Gene Gomes, Managing Director, Abacus Private Equity. “We are delivering on our goal to add value in core industries like real estate and have forged strong relationships in new markets such as seniors living. Also, our executive team has grown with the addition of key hires and we have moved into new executive offices in Toronto, Montreal and Vancouver. We are extremely pleased with our performance so far and well positioned for comparable success in the remainder of the year with an exciting new initiative, which will be announced shortly.”
About Abacus Private Equity
Abacus Private Equity Group is a leading independent investment firm that has been acquiring Canadian and international corporations and partnerships for more than a decade. Since 2005, Abacus has acquired nearly $1.4 billion in assets through its affiliated divisions. Abacus possesses depth of knowledge, expertise in diverse industries and substantial resources for new opportunities and is committed to making equity investments for long-term value appreciation.
Pamela L. Smith